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the Following Data (In Thousands of Dollars) Have

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The following data (in thousands of dollars) have been taken from the accounting records of Karlist Corporation for the just completed year.  Sales $800 Raw materials inventory, beginning $60 Raw materials inventory, ending $70 Purchases of raw materials $180 Direct labour $100 Manufacturing overhead $190 Administrative expenses $110 Selling expenses $150 Work in process inventory, beginning $70 Work in process inventory, ending $80 Finished goods inventory, beginning $120 Finished goods inventory, ending $160\begin{array} { | l | r | } \hline \text { Sales } & \$ 800 \\\hline \text { Raw materials inventory, beginning } & \$ 60 \\\hline \text { Raw materials inventory, ending } & \$ 70 \\\hline \text { Purchases of raw materials } & \$ 180 \\\hline \text { Direct labour } & \$ 100 \\\hline \text { Manufacturing overhead } & \$ 190 \\\hline \text { Administrative expenses } & \$ 110 \\\hline \text { Selling expenses } & \$ 150 \\\hline \text { Work in process inventory, beginning } & \$ 70 \\\hline \text { Work in process inventory, ending } & \$ 80 \\\hline \text { Finished goods inventory, beginning } & \$ 120 \\\hline \text { Finished goods inventory, ending } & \$ 160 \\\hline\end{array}
-The cost of goods sold for the year (in thousands of dollars) was:

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Equation

A mathematical statement that asserts the equality of two expressions, symbolized by the use of an equals sign.

Solve

To find the solution to a problem or the answer to a question, especially in mathematics.

Solution

A solution in mathematics refers to the value or set of values that satisfy an equation, inequality, or system of equations.

Equation

A mathematical statement that asserts the equality of two expressions, typically containing one or more variables.

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